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May 28 - 03:55 AM

EUR/USD - Resumption Of The Rally Off April's Low Point

By Peter Stoneham  —  May 28 - 02:50 AM
  • Our long is comfortably in play as price lifts from the 100DMA, 1.0813 EBS

  • Daily-monthly RSIs are rising and the pair traded above the 10-DMA Friday

  • A bull flag continuation pattern has played out on the daily chart

  • Completion of that pattern suggests the rally off April's low has resumed

  • Resistance points at 1.0895, 1.0942 and 1.0980, stand out 2024 highs

  • The bull target remains 1.0960 with a stop at 1.0785

    for more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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